The deal will be completed on 2 July after Beckham has a medical, and he will then be presented to the Real fans.

Fact File

Players United might buy with the cash

Ronaldinho from Paris Saint Germain for £9m

Harry Kewell from Leeds for £7m

Ricardo Quaresma from Sporting Lisbon for £9m

United won't get all that money in one go, they'll get some in July, more over the next four years, and then even more if Real do well in the Champions League.

Speaking about the move, Beckham said: "I would like to publicly thank Sir Alex Ferguson for making me the player I am today.

Becks thanks the fans

"I will always hold precious memories of my time at Manchester United and Old Trafford as well as the players, who I regard as part of my family, and the brilliant fans who have given me so much support over the years and continue to do so."

Raul wears the number seven shirt for Real Madrid

In a statement on the Manchester United website, Reds boss Sir Alex Ferguson said: "David has been an integral part of all the successes that Manchester United have achieved in the last decade.

"I would like to wish him and his family every success in the future, and thank him for his service to the club."

It's rumoured that Beckham will be earning around £90,000 when wearing the white of Real, similar to the money he earns at United already.